Renaissance Investment Group Lowers stake in Boeing Co (BA)

Boeing Co (BA) : Renaissance Investment Group reduced its stake in Boeing Co by 3.9% during the most recent quarter end. The investment management company now holds a total of 34,786 shares of Boeing Co which is valued at $4,639,757 after selling 1,413 shares in Boeing Co , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Boeing Co makes up approximately 2.26% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in BA in the latest quarter, The investment management firm added 953 additional shares and now holds a total of 48,334 shares of Boeing Co which is valued at $6,446,789. Boeing Co makes up approx 0.23% of Msi Financial Services Inc’s portfolio.Capstone Asset Management Co boosted its stake in BA in the latest quarter, The investment management firm added 1,090 additional shares and now holds a total of 23,817 shares of Boeing Co which is valued at $3,185,286. Boeing Co makes up approx 0.09% of Capstone Asset Management Co’s portfolio.Lynch Associatesin boosted its stake in BA in the latest quarter, The investment management firm added 4,447 additional shares and now holds a total of 17,315 shares of Boeing Co which is valued at $2,331,638. Boeing Co makes up approx 1.03% of Lynch Associatesin’s portfolio.Cacti Asset Management boosted its stake in BA in the latest quarter, The investment management firm added 4,500 additional shares and now holds a total of 259,145 shares of Boeing Co which is valued at $34,896,466. Boeing Co makes up approx 3.55% of Cacti Asset Management’s portfolio.

Boeing Co closed down -2.1 points or -1.55% at $133.74 with 36,07,330 shares getting traded on Tuesday. Post opening the session at $134.94, the shares hit an intraday low of $133.27 and an intraday high of $135.69 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Boeing Co reported $-0.44 EPS for the quarter, missing the analyst consensus estimate by $ -2.68 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $2.24. The company had revenue of $24755.00 million for the quarter, compared to analysts expectations of $24174.22 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Many Wall Street Analysts have commented on Boeing Co. Company shares were Reiterated by Canaccord Genuity on Jul 28, 2016 to “Hold”, Firm has raised the Price Target to $ 144 from a previous price target of $140 .

The Boeing Company together with its subsidiaries is an aerospace company. The Company operates through five segments: Commercial Airplanes Boeing Military Aircraft (BMA) Network & Space Systems (N&SS) Global Services & Support (GS&S) and Boeing Capital (BCC). The Defense Space & Security (BDS) business includes BMA N&SS and GS&S. The Commercial Airplanes segment develops produces and markets commercial jet aircraft and provides related support services. The BMA segment is engaged in the research development production and modification of manned and unmanned military aircraft and weapons systems for global strike. The N&SS segment is engaged in the research development production and modification of the products and related services. The GS&S segment provides a range of support solutions. The BCC segment’s portfolio consists of equipment under operating leases finance leases notes and other receivables assets held for sale or re-lease and investments.